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Praxair to acquire NuCO from Aurora Capital Group

Praxair announced it has entered into an agreement to acquire NuCO from Aurora Capital Group, a Los Angeles, California based private equity firm, for $1.1B in cash. The transaction is subject to customary conditions to closing, including regulatory approval, and is expected to close by the end of the first quarter of 2013. NuCO is the leading national provider of beverage carbonation solutions in the U.S. to the restaurant and hospitality industries with 162,000 customer locations and 900 employees. The business is expected to generate full year sales in 2013 of about $250M and EBITDA of about $115M. The acquisition is expected to be neutral to slightly accretive to Praxair's 2013 earnings per share.